Y Intercept Hong Kong Ltd Acquires Shares of 2,532 Deere & Company (NYSE:DE)

Y Intercept Hong Kong Ltd bought a new position in shares of Deere & Company (NYSE:DE) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,532 shares of the industrial products company’s stock, valued at approximately $1,073,000.

Several other large investors have also made changes to their positions in DE. Pineridge Advisors LLC raised its position in Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 26 shares during the period. Modus Advisors LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth about $32,000. YANKCOM Partnership purchased a new stake in shares of Deere & Company during the fourth quarter worth about $34,000. Synergy Asset Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth about $35,000. Finally, Sierra Ocean LLC purchased a new position in Deere & Company in the 4th quarter valued at about $44,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 1.8 %

Shares of NYSE:DE opened at $478.57 on Thursday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The firm’s 50 day moving average price is $454.92 and its 200 day moving average price is $424.30. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The stock has a market cap of $130.34 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. Deere & Company’s dividend payout ratio (DPR) is 28.72%.

Analyst Ratings Changes

DE has been the subject of several research reports. Oppenheimer boosted their price objective on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. StockNews.com cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. UBS Group lifted their target price on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a report on Friday, December 6th. Finally, Barclays raised their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $454.65.

Insiders Place Their Bets

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the sale, the insider now owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by company insiders.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.